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ICE Brent vs. DME Oman Crude Oil Swap Futures Contract Specs

Contract Unit 1,000 barrels
Price Quotation U.S. dollars and cents per barrel
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Minimum Price Fluctuation $0.001 per barrel
Product Code CME Globex: DBO
CME ClearPort: DBO
Clearing: DBO
Listed Contracts CME Globex: 1 month
CME ClearPort: 36 consecutive months
DEFAULT 36 Consecutive Months
Settlement Method Financially Settled
Floating Price (A) The Floating Price for each contract month is the arithmetic average of the Brent Crude Oil Futures first nearby contract settlement price minus the DME Oman Crude Oil Futures first nearby contract settlement price calculated as of 16:30 (Singapore time) for each business day during the contract month (using non-common pricing), except as noted in (B) below.

(B)The settlement price of the first nearby contract month will be used except on the last day of trading for the expiring Brent Crude Oil Futures contract when the settlement price of the second nearby Brent Futures contract will be used.
Termination Of Trading Trading shall cease on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 126
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing